Tilray Brands (NASDAQ:TLRY) Trading Down 2.5% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 2.5% during trading on Friday . The stock traded as low as $5.48 and last traded at $5.51. 3,304,408 shares were traded during mid-day trading, a decline of 25% from the average session volume of 4,400,771 shares. The stock had previously closed at $5.65.

Analyst Ratings Changes

TLRY has been the subject of several recent analyst reports. TD Cowen decreased their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. Finally, Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.50.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a 50-day moving average of $6.20 and a 200-day moving average of $7.91. The stock has a market cap of $642.19 million, a PE ratio of -0.40 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The business had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. During the same quarter in the prior year, the business posted ($0.87) EPS. Research analysts predict that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity

In related news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

Several institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands during the 4th quarter valued at approximately $38,000. Essential Partners LLC grew its holdings in Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after buying an additional 8,811 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Tilray Brands during the 4th quarter valued at approximately $126,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands during the 3rd quarter valued at approximately $25,000. Finally, R Squared Ltd purchased a new position in Tilray Brands during the 1st quarter valued at approximately $94,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.